While there was a 1 million dollar requirement for Turkish citizenship through investment in the past, today it is possible for foreign investors who buy a house worth 250,000 dollars to become Turkish citizens with the amendment made in 2018.
Turkish citizenship by investment conditions consist of 6 items;
- To make a fixed capital investment of at least 500,000 USD.
- To purchase the immovable with a minimum amount of USD 250.000 provided that it is not sold for 3 years.
- To create employment for at least 50 people.
- To deposit at least USD 500,000 in banks operating in Turkey on the condition of keeping the deposit for three years.
- To purchase government debt securities of at least USD 500,000 on condition that they keep them for 3 years.
- To purchase at least USD 500,000 real estate investment fund participation share or venture capital investment fund participation share, provided that they hold at least three years. However, it should not be forgotten that foreign investor investment can also be made in foreign currency or TL equivalent of US Dollars specified in the required conditions.
Turkish Citizenship Acquisition Process by Investment
- The process of acquisition of Turkish citizenship by investment method proceeds through the following 3 stages:
- Fulfilling at least one of the investment conditions specified in Article 20 of the relevant regulation and obtaining a Certificate of Conformity from the relevant institution.
- Obtaining Short Term Residence Permit from Turkey following Law No. 6458, Article 31, first paragraph, sub-paragraph J.
- Application for Turkish citizenship by investment.
Are there any critical points to know?
The Ministry wants to make sure that the minimum value is $ 250,000. Certified real estate appraisers value real estate to prevent price fraud. Therefore, there may be deviations of up to 20% between the sales price and the valuation. For this reason, Partners Global Property recommends that you make calculations and buy real estate considering this situation.